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ECP acquisition of Calpine  in 2017 for $5.6 billion and sale to Constellation for profit of $25 billion. In 2017 the market seeing the shift to renewable energy missed that it would take 20-30 years to make the transition and in the meantime natural gas had a big role to play as a low cost less polluting fuel than coal. ECP in 2017 saw good cash flow and an opportunity to improve it with some changes. Blackstone's $16 billion made on buying Hilton Hotels is the second best deal ever for such a sale, buying of private companies and making improvements to sell them at a profit.

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It is important to recall Theodore Roosevelt's words in his Annual Message to Congress of 1904-

"The citizenship of this country should not be debased. It is vital that we kep hight he standard of living of our wage workers, and therefore we should not admit masses of men whose standards of living, customs and habits are such that thy tend to lower the level of the American wage worker, and above all we should not admit any man of an unworthy type, any man of whom we can say that he will be a bad citizen, or that his children will detract from instead of adding to the sum of the good citizenship of this country."

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Russia's takes on a tough negotiating position in the winter of 2025-26, just when the Russian economy suffers decline in oil revenues. Opaque loans in the defense sector that make up 25% of loans or $202 billion could be a problem. Cost of the war in 2025 are over $200 billion. Other problems are the finances of Lukoil and Rosneft, the increasing amount of sanctioned oil that is sitting on tankers in the sea with no buyers. Gazprom has a loss of $12.9 billion in 2025, with cash reserves depleted from $22 billion in 2022 to $6-8 billion in Jan 2026, with $20 billion of additional debt taken on. Rosneft profit dropped 70% in 2025 to $3.6 billion. Consumer spending is down by about 9% in December 2025 compared to 2024. Yet this is unlikely to lead to social or political problems in Russia. It will make it more difficult to finance the war compared to previous years. The Ukraine economy needs $135 billion for the next 2 years for funding the budget which now depoends on laons from the EU. Both Russia and Ukraine are fighting an exhausting war as it enters the fifth year of the war, exhausting their economies and their population, as the leaders of Russia and Ukraine fail to reach an agreement. ...

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Lack of wage growth and self imposed fiscal rules as barriers for Britain's Labour government in 2026. Keir Starmer faces challenges for the leadership after May 2026 elections. Self imposed fiscal rules set a limit to what the administration can achieve and finance minister Rachel Reeves lacking the imagination to come up with a way to boost growth with fiscal rules modified to generate jobs and wage growth working with British industry.

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Strident tone of Treasury Secretary Scott Bessent defending tariffs, the economy, and affordability. Bessent defends the DJT administration's tariffs plan, its effort to bring back jobs, its policies on gas prices that have cut inflation, and the president's Big Bold Beautiful Bill with it's provisions for Businesses to expand investment in the economy using a rapid depreciation provision. He has called the critics as having "Trump Derangement Syndrome." Part of this is based on his economic experience and understanding of how tariffs can be used to level the playing field where the EU, Japan, China, Mexico and other countries have taken advantage of trade policy for their own gains to the detriment of the US and communities in the Nation that lose jobs and factories. One of the assets to the current administration of DJT is Bessent's grasp of financial markets, his extensive experience in the field as a business person. He was able to convince the president to withdraw tariffs or mitigate tariffs to adjust for the effects on financial markets in the US and worldwide.  ...

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Bill Clinton, a former president, is no longer a popular figure in the Democratic Party in 2025. A new generation of leaders in the Democrats seek to put Clinton in the past. Clinton's main achievement are the peace accords in Ireland and in the Balkans with Serbia and Croatia, Bosnia. In domestic policy Clinton did little to anticipate the problems of getting health insurance for all, outshoring, and increasing jobs and wages for factory workers. He was involved in the scandal with an intern that led to efforts to impeach him and resulted in much of the second term being wasted in the process. It was under his successor Bush that the egregious provision that removed the power of Medicare to negotiate prices of drugs with manufacturers was passed. Bush was pushed into the war in the Middle East after 9/11 attacks by Middle East terrorists and havens in Afghanistan, that led to a two decades war in Afghanistan. Withdrawal happened under DJT and Biden consuming resources and time leading to the affordability crisis, outshoring of jobs and lower wages for factory workers. No one talks now about Clinton, Bush, Obama, because of these wars and the loss of America's leadership in manufacturing, squandered resources of attention, time and money that would have created new infrastructure and health insurance for all, inshoring. ...

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Putin says in "Direct Line" marathon of questions on December 19, 2025 in a Moscow Hall that the western nations in NATO played dirty tricks on Russia with expanding NATO westwards after promises they would not expand an inch.

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Barney Roney Analysis of England's 3-0 defeat in three matches in Australia in December 2025. Roney writes in the BBC Analysis that there was a basic lack of tension and discipline, of not doing the homework needed and not recognizing the need for homework when playing a side like Australia. Australia without Cummins, Smith and other injured players- made it work with Mitchell Starc and Travis Head in the bowling and batting attack. Roney does not fault Stokes as much as he does McCallum the coach of the England team. Other reports show Stokes and the England cricket team spending time at the beach for days that suggested a lack of discipline. England did not trust the process it trusted the captain's instincts and brave comments, Australia trusted the process and this helped it improve as the game went on even without key players. 

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Income of $63,000 a year is what an average full time worker makes in the US and $140,000 what it takes to build a middle class life in the US in 2025. It is unlike the days of their parents say young people when most people could afford to buy a home if they worked full time. In 2025 engineers making $90,000 say they cannot make room for a down payment at that salary, or afford the cost of having one or two children. 

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German industry and arms buildup to counter Russia in Ukraine January 2026.

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Putin response to BBC's Steve Rosenberg: plans for war on Europe idea is nonsense, in Q&A with Russian audience, December 20 2025.